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NFE

New Fortress Energy Inc.

NFE

New Fortress Energy Inc. • NASDAQ
$1.22 ▲ 0.00% (+0.00)
Market Cap $347.15 M
52w High $16.66
52w Low $0.98
Dividend Yield 0.40%
P/E -0.25
Volume 6.18M
Outstanding Shares 284.55M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $327.367M ▲ $86.05M ▼ $-299.97M ▲ -91.631% ▲ $-1.07 ▲ $-24.073M ▲
Q2-2025 $301.692M ▼ $446.545M ▲ $-555.077M ▼ -183.988% ▼ $-2.02 ▼ $-288.611M ▼
Q1-2025 $470.536M ▼ $186.638M ▲ $-200.129M ▲ -42.532% ▼ $-0.73 ▲ $-115.646M ▼
Q4-2024 $678.998M ▲ $117.7M ▼ $-223.565M ▼ -32.926% ▼ $-1.11 ▼ $275.219M ▲
Q3-2024 $567.535M $167.284M $9.299M 1.638% $0.032 $109.435M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $145.237M ▼ $11.906B ▼ $10.782B ▲ $995.394M ▼
Q2-2025 $551.109M ▲ $11.957B ▼ $10.564B ▼ $1.271B ▼
Q1-2025 $447.862M ▼ $13.028B ▲ $11.116B ▲ $1.789B ▼
Q4-2024 $492.881M ▲ $12.867B ▲ $10.868B ▲ $1.876B ▲
Q3-2024 $90.842M $11.97B $10.183B $1.66B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-290.6M ▲ $-191.031M ▲ $-105.796M ▼ $-143.842M ▲ $-432.066M ▼ $-296.69M ▲
Q2-2025 $-556.827M ▼ $-352.451M ▼ $637.364M ▲ $-314.884M ▼ $-15.338M ▲ $-664.779M ▼
Q1-2025 $-200.129M ▲ $-31.705M ▼ $-335.915M ▲ $204.456M ▼ $-128.832M ▼ $-372.175M ▲
Q4-2024 $-223.565M ▼ $440.542M ▲ $-766.093M ▼ $1.124B ▲ $728.854M ▲ $-399.414M ▲
Q3-2024 $15.896M $-16.768M $-425.839M $365.198M $-61.125M $-451.661M

Revenue by Products

Product Q3-2024Q1-2025Q2-2025Q3-2025
Interest Income and Other Revenue
Interest Income and Other Revenue
 $0 ▲$10.00M ▲$0 ▼$0 ▲
Cargo Sales
Cargo Sales
 $0 ▲$0 ▲$20.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has climbed sharply from the early years and then flattened out over the last three, suggesting the company has reached a new scale but not yet found strong, steady growth on top of it. Gross margins look healthy for an energy infrastructure business, which indicates the underlying projects can be profitable. However, earnings have been very volatile: strong profits one year, a loss the next. The recent swing back to a net loss after a profitable period stands out and signals that the business model is still sensitive to costs, market conditions, and financing charges. Overall, the income statement tells a story of a company that has proven it can earn money in good conditions but has not yet shown consistent, durable profitability.

Balance Sheet

Balance Sheet The balance sheet is dominated by large, rapidly grown assets funded mostly with debt. Total assets have increased several times over in a short period as the company has built out infrastructure, but equity remains relatively small compared with the debt load, which implies heavy leverage. Cash balances appear thin relative to total obligations, which lines up with the liquidity concerns and forbearance agreement mentioned in the narrative. This structure makes the company highly dependent on cooperative lenders, successful project execution, and stable cash generation to remain onside. In simple terms, it is an asset-rich but heavily indebted balance sheet with limited room for prolonged setbacks.

Cash Flow

Cash Flow Operating cash flow has moved from weak to clearly positive, which is encouraging and suggests the underlying projects can throw off cash. At the same time, free cash flow has been deeply negative year after year because of very high capital spending. The business has effectively been in “build mode,” funding growth largely through external capital rather than internally generated cash. This is typical for large infrastructure buildouts, but it becomes risky when financing conditions tighten or when lenders grow cautious. With the recent financial stress, the ability to slow spending, monetize assets, or improve operating cash flow quickly becomes central to the company’s survival and flexibility.

Competitive Edge

Competitive Edge Commercially, the company has carved out a differentiated niche: fast-deployment LNG infrastructure, integrated LNG-to-power solutions, and entry into underserved markets where competition has been limited. Its turnkey model and first-mover presence in some regions provide real advantages and customer stickiness. However, its moat appears shallow and under pressure. Exposure to commodity price swings, limited long-term fixed-price supply contracts, and intense global competition in LNG all weaken pricing power. Most importantly, the current financial distress undermines negotiation strength with customers and partners and could delay or scale back projects. The competitive position is strategically interesting but financially fragile.

Innovation and R&D

Innovation and R&D Innovation is a clear bright spot. The Fast LNG concept is genuinely differentiated, aiming to deliver liquefaction capacity far faster and potentially cheaper than traditional plants. The integrated LNG-to-power chain further sharpens the offering. On top of that, the company is making bold moves into green hydrogen through partnerships and early-stage projects, positioning itself for a lower-carbon future. The flip side is that these innovations are capital-hungry, technically complex, and still in relatively early commercialization. With the current balance sheet strain, there is a real risk that funding constraints slow or dilute these innovation efforts before they can fully prove themselves.

Summary

New Fortress Energy sits at the intersection of ambitious innovation and severe financial strain. The business has scaled rapidly, built meaningful infrastructure, and demonstrated that its assets can generate solid margins and positive operating cash flow. Strategically, its fast LNG deployments, integrated LNG-to-power model, and early green hydrogen bets give it a distinctive profile in the energy landscape. At the same time, the company is highly leveraged, has burned large amounts of cash on growth, and has already needed forbearance from creditors, according to the provided information. The central question is no longer about technology or market opportunity, but about financial resilience: can the company stabilize its capital structure and convert its project pipeline into reliable, self-funding cash flows before its debt burden forces more drastic outcomes.

NEWS

November 18, 2025 · 8:50 AM UTC

New Fortress Energy Signs Forbearance Agreement

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October 6, 2025 · 7:30 AM UTC

New Fortress Energy Achieves First Fire at CELBA 2 Power Plant

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September 16, 2025 · 4:15 PM UTC

New Fortress Energy Reaches Milestone Agreement for Long-Term Gas Supply with Puerto Rican Government

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